Pacific Castle, an Irvine-based owner-operator of retail shopping centers in the western U.S., has completed three transactions in California. The company completed two acquisitions and one disposition totaling more than $50 million in exchanged capital. The deals include:

• Prune Tree Shopping Center in Salinas: Pacific Castle bought the property for $20 million from JG Management. The 131,000-square-foot center is anchored by Safeway and CVS Pharmacy. It also includes tenants such as McDonald’s, Taco Bell, Starbucks Coffee and AutoZone. Pacific Castle financed the acquisition through a 1031 exchange with existing capital partners.

• UC San Francisco Medical Center: Acquired for $5.3 million from KB Homes. The property totals 3,400 square feet and is on the ground level of KB Homes’ newest condo development at 2655 Bush Street in San Francisco called the District at Lower Pacific Heights. The space is occupied by UCSF medical offices and physical therapy services.

• The other portion of the exchange included the $27 million sale of Pacific Castle’s Santee Town Center in Santee, outside of San Diego. The property is a 122,000-square-foot power center anchored by Ross Dress for Less, Michael’s and Office Depot.

Newport Beach-based Bixby Land Co. has bought a 121,341-square-foot industrial building at 1400 Allec St. in Anaheim for $18.2 million in an all-cash deal. The Anaheim building is fully occupied on a long-term lease to Blue Line Foodservice, a privately held international supply chain solutions provider. The tenant utilizes the distribution facility to serve area Little Caesars restaurants.

FINANCING

MetroGroup Realty Finance, a commercial mortgage banking firm in Newport Beach, has restructured the debt on an office building in Denver and an office/flex building in San Antonio. The new financing, which totals $50.3 million, was arranged by MetroGroup Realty Finance’s vice president, Scott Botsford. The sponsor, Dornin Investment Group, an institutional real estate investment firm actively buying office properties throughout the western U.S., was eager to take advantage of a low interest rate environment and restructure the debt to provide future funding for leasing costs.

PEOPLE IN REAL ESTATE

Patty Bartlett, chief operating officer of Resmark Impact Ventures, has joined the advisory board of the Center for Real Estate at UC Irvine’s Paul Merage School of Business. Bartlett, an Irvine resident, is a UCI alum and also serves as a planning commissioner for the city. Resmark Impact Ventures is the Emerging Managers platform of the Resmark Cos., a real estate private equity firm that invests on behalf of two public pension funds. Bartlett joined Resmark in 2007 as vice president of asset management. She was named COO of Resmark Impact Ventures when it was formed in 2014. The Center for Real Estate was created in 2006 to provide the academic and business communities with a network of connections and opportunities for education, training and leadership development in the field of real estate.

JMAC Lending, a wholesale and correspondent lending company in Santa Ana, has made two management hires: Chris Wilson has been hired as vice president of conventional underwriting. He was previously with Greenlight Funding in Irvine. Kevin Hsu has been hired as business applications manager. Previously with Boeing in Seal Beach, Hsu will spearhead and manage the company’s technology implementation to support business operations.

SRS Real Estate Partners has added Michael Walseth as senior vice president and McCall Huske as transaction coordinator. They join SRS Investment Properties and National Net Lease Group in the company’s Newport Beach office.

R.J. Sommerdyke has joined the acquisition team at Meridian, a real estate development company specializing in the health care sector in Irvine. Sommerdyke will be responsible for all aspects of acquiring value-add health care properties and client-driven development sites in Los Angeles, Orange and San Diego counties. He previously served as director of acquisitions for Project Dimensions and spent five years as the director of Acquisitions for Centra Realty Corp.